Crude-by-rail shipments set new record in December despite lower price discounts

Canada exported nearly 354,000 barrels per day of oil, up seven per cent from November

The National Energy Board says crude-by-rail exports from Canada reached a record high in December.

Canada exported nearly 354,000 barrels per day of oil, up seven per cent from November’s total of 330,400 bpd and the 152,000 bpd moved in December 2017.

On Tuesday, Alberta Premier Rachel Notley announced the province will invest $3.7 billion to move up to 120,000 barrels of oil per day by rail by 2020 under deals with Canada’s two major railways.

Initial daily shipments of 20,000 barrels are expected to begin as early as July.

READ MORE: Alberta investing $3.7B to move oil by rail, leasing cars

Full export pipelines have been blamed for a glut of oil in Western Canada last fall that led to large discounts for bitumen-blend Western Canadian Select crude compared with New York benchmark West Texas Intermediate oil.

Those differentials narrowed in early December when Alberta announced it would impose crude oil production curtailments starting Jan. 1.

Some producers have complained that the lower differentials make crude-by-rail shipments less profitable.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

BC RCMP notify IIO BC of incident involving police dog in Kelowna

A suspect and a police dog were taken to receive medical treatment after an incident on Aug. 1.

Alberta man presumed to have drowned after cliff jumping in Peachland

Emergency responders began rescue efforts at around 2:40 p.m. on Aug. 1.

Sternwheelers once plied Okanagan Lake

Vessels once transported passengers and goods along the Okanagan Valley

Reported Big White wildfire dubbed ‘smoke chase’

Crews responded to the area but could not locate a fire

Rose Valley Dam wildfire in West Kelowna grows to 2 hectares

The fire was first reported at around 2:30 p.m. on Aug. 2.

VIDEO: Otter pups learn to swim at B.C. wildlife rescue facility

Watch Critter Care’s Nathan Wagstaffe help seven young otters go for their first dip

Michael Buble among 13 British Columbians to receive Order of B.C.

Ceremony will be delayed to 2021 due to COVID-19

U.S. border communities feel loss of Canadian tourists, shoppers and friends

Restrictions on non-essential travel across the Canada-U.S. border have been in place since March 2`

Rollout of COVID-19 Alert app faces criticism over accessibility

App requires users to have Apple or Android phones made in the last five years, and a relatively new operating system

Alleged impaired driver sparks small wildfire near Lytton after crash: B.C. RCMP

Good Samaritans prevented the blaze from getting out of control

B.C. First Nation adopts ‘digital twinning’ software to better manage territory

Software allows users to visualize what a mountain might look like if the trees on its slopes were logged

All inquiry recommendations implemented after fatal Port Hardy RCMP shooting: Ministry

The Independent Investigations Office of B.C. cleared the RCMP officers involved of wrongdoing

Most Read